by Michael Tarsala
The U.S. presidential election has investors on edge — especially for those who want to know how it will affect their savings rate, taxes, dividend income and the market’s direction.
By year’s end, 96% of Americans earning more than $100,000 will make some change to their savings and investment strategies, according to the latest Edward Jones survey.
Among the 1,010 people surveyed, 39% said the presidential election was the biggest impetus for making investment and savings tweaks.
Here are the respondents’ biggest worries:
- A possible tax hike.
- Economic policy changes and how that may affect markets.
- Health care costs and the need to save for them.
Covestor offers options that may address each of those concerns. As it relates to:
Tax hikes: One of our Covestor advisers can help you weigh the benefits and drawbacks of investment models with current dividend yields north of 4 to 5%, and if they are right for you. Higher dividends might be a strategy to help you take the bite out of any added taxes. We also are can point you to shorter-term strategies that might be suitable. There are some low-volatility options that might help you boost returns, and could become more attractive in the event of rising capital gains taxes.
Economic policy changes: It is possible that one of our low volatility investment options might work for you – ones that could keep you invested with the goal of keeping the ups and downs to a minimum.
Higher health care costs: We can help you find income strategies that could be right for you and your family, and could help you better prepare for rising medical expenses. By the way, there also is a Covestor investment model that specializes in the healthcare industry. If it is suitable, it may be a way to benefit from any changes in legislation affecting health care stocks.
If you, too, share any of those worries, call Covestor, at 866-825-3005, X 703, from 9 to 5, Monday through Friday, Eastern. You can ask for Bhargav in our New York office.
At Covestor, we can set you up with your own separately managed account (your money is separate from everyone else’s) that may help you mitigate potential election-based changes – all with very low investment minimums.
Photo by: Nicole Abdou